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Notice Of A Change In The Percentage Level Of A Substantial Shareholder's Interest

BackMay 14, 2009

Part I

Date of notice to issuer

13/05/2009

Name of Substantial Shareholder

Argyle Street Management Holdings Limited

Notice Type

Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest.

Part II - Not Required

Part III

Date of change of Deemed Interest

12/05/2009

The change in the percentage level

From 43.28 % To 46.08 %

Circumstance(s) giving rise to the interest or change in interest

Right Issue

Argyle Street Management Holdings Limited ("ASMHL") is the beneficial holder of more than 50% of the voting shares of Argyle Street Management Limited ("ASML"). ASML is the beneficial holder of more than 20% of the voting shares of ASM Hudson River Fund ("ASMHRF") and ASM Asia Recovery Fund ("ASMARF"). ASMARF is the beneficial holder of more than 50% of the issued share capital of ASM Asia Recovery (Master) Fund ("ASMARMF"). ASMARMF is the beneficial holder of more than 20% of the issued share capital of ASM Ventures Limited ("ASMVL").

As a result of a rights issue of TIH (the "Rights Issue"), ASMARMF, ASMVL and ASMHRF holds 16,276,192 shares, 36,601,536 shares and 1,192,491 shares of TIH respectively. All of the shares are held by their depository agent, HSBC (Singapore) Nominees Private Limited.

Accordingly, ASMHL has a deemed interest in 54,070,219 shares.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

Change in the percentage level is the result of a transaction.

Part IV

Holdings of Substantial Shareholder, including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	0	38,087,498
As a percentage of issued share capital	0 %	43.28 %
No. of shares held after the change	0	54,070,219
As a percentage of issued share capital	0 %	46.08 %
Footnotes	(i) Before the Change - the percentage of the total issued shares is calculated based on 88,000,004 Ordinary Shares. (ii) After the Change - the percentage of the total issued shares is calculated based on 117,333,338 Ordinary Shares.